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City of Roseville — 2007 Budget Tax Levy, Tax Capacity, and Tax Impact The tax levy for 2007 is $11,696,360, an increase of $526,495 or 4.7 %. The increase in property taxes will offset spending increases for inflation and healthcare, and restore funds for the City's asset replacement programs. With the proposed tax levy and estimated increases in the City's tax base, an average - valued home of $200,000 would see a slight decrease of $9 or 1.9% in their local property taxes, holding all other factors constant (i.e. with no valuation increase). The following table summarizes the 2007 tax levy. Parks & Recreation 721,330 130,540 784,045 193.1 % 62,715 8.7% Parks Maintenance 863,045 0.0% 893,405 30,360 3.5% Park Improvements 150,000 175,000 25,000 16.7 % Pathways Maintenance 142,000 146,000 4,000 2.8% Streetscape Improvements 50,000 60,000 10,000 20.0% General Vehicle Replacement 44,540 130,540 86,000 193.1 % General Debt Service 1,625,000 1,625,000 - 0.0% Total 1 $ 11,169,865 1 $ 11,696,360 1 $ 526,495 1 4.7 The Citywide tax capacity represents the taxable property value within the City. It is determined by applying the State -wide property tax formula for each parcel, then adding each parcel's tax capacity. The citywide tax capacity is then applied to the proposed levy to determine the local tax rate. The citywide tax rate for 2006 and 2007 (estimated) is 23.214% and 22.763% respectively. To determine an individual property's tax, the local tax rate is applied to the property's net tax capacity. For example, a $200,000 home has a tax capacity of 2,000 (200,000 multiplied by 1% - the Statewide tax formula for homestead property). This tax capacity figure is then multiplied by the local tax rate. 2,000 x.22763 = $455 In 2007 a $200,000 home will pay an estimated $455 in city taxes. A similar calculation for other property valuations is shown in the tables below. 9